Alikze »» XAUUSD| Completion of leg 3 or C...?

🔍 Technical analysis: Completion of leg 3 or C

- According to the analysis presented in the recent posts here and here, after the completion of the wave B, a rising leg C or 3 was formed, which has so far returned more than 1.618 of the previous wave in the supply zone.

- Considering that a bearish candle is formed in the 4H time frame, any upward correction can be to collect liquidity for a short-term correction.

- Therefore, I expect the correction to extend at least to the compression area of 100 fibo of the previous wave and touch the next level or the next node in case of selling pressure.

💎 In addition, if confirmed, this ascending cycle can be the format of its movement, which can form the next ascending leg, which will be updated if the behavior and structure of the post changes.

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